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Whilst it may not be a huge deal, we thought it was good to see that the Myers Industries, Inc. (NYSE:MYE) President, Michael McGaugh, recently bought US$54k worth of stock, for US$21.62 per share. Although the purchase is not a big one, increasing their shareholding by only 3.7%, it can be interpreted as a good sign.
Check out our latest analysis for Myers Industries
Myers Industries Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Independent Director Jeffrey Kramer for US$198k worth of shares, at about US$19.82 per share. So it's clear an insider wanted to buy, at around the current price, which is US$21.82. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider purchases were made at close to current prices.
Myers Industries insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data indicates that Myers Industries insiders own about US$9.0m worth of shares (which is 1.1% of the company). We do generally prefer see higher levels of insider ownership.
What Might The Insider Transactions At Myers Industries Tell Us?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Myers Industries insiders are reasonably well aligned, and optimistic for the future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Myers Industries. In terms of investment risks, we've identified 1 warning sign with Myers Industries and understanding this should be part of your investment process.